| I go to Berklee, and I know that although they've created their own sort of standardized system for theory, they haven't done anything new with chord symbols, the basic ones that is. One thing that IS codified here is nomenclature for extended harmony involving 9ths, 11ths, and 13ths. Elsewhere its common to see chord symbols like E9 and Bbm11 and things like that. Here, its eschewed in favor of the more specific tension naming system where you we call those chords E7(9), Bbm7(11). This is done for both a theoretical reason and a practical reason. The practical reason is the simplest - it gives you greatest control over what tensions to notate. What if you want a 7 chord voiced with a 13, #11, but no 9? The other way doesn't have any clean way of doing that. The theoretical reason is that the tensions have no functional relationship to the key, they simply are controlled harmonic dissonances that serve to color the chord rather than alter its function. Eg, there is a functional difference between a 7 chord and a minor 7 chord, but none between a 7 chord and a 7 chord with tensions 9 and 13 on top of it - they're just there to add spice.
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